34,455 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 34,455 shares of the company’s stock, valued at approximately $2,385,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FBIN. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations in the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. boosted its stake in Fortune Brands Innovations by 31.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at $81,000. Quarry LP increased its position in shares of Fortune Brands Innovations by 3,069.0% during the 2nd quarter. Quarry LP now owns 919 shares of the company’s stock valued at $60,000 after purchasing an additional 890 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Fortune Brands Innovations by 35.4% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock worth $109,000 after buying an additional 318 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FBIN shares. UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Truist Financial lifted their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.36.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $74.78 on Tuesday. The business’s 50-day moving average is $73.50 and its 200-day moving average is $78.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.17 and a beta of 1.49. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 28.17%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.